The FINANCIAL — The European Business Awards is a European awards programme started in 2006.
The FINANCIAL — The European Business Awards is a European awards programme started in 2006. Since then the European Business Awards has established itself as the ultimate platform for outstanding businesses in the EU. Designed to celebrate exceptional results across a variety of categories, the EBAs are a global showcase for the best in the business.
The main principles behind the Awards are Innovation, Financial Success, Business Ethics and having an International Mindset. These principles enable companies of all sizes and industries to be judged on an equal standing and highlight the characteristics of long term successful businesses.
The Awards are judged by more than 200 very senior people who are drawn from business, academia, government and the media. The panel includes CEOs, entrepreneurs, management consultants, editors, ministers and prime ministers, past and present. From Yves Leterme (ex-prime minister of Belgium) and José Maria Anzar (ex-prime minister of Spain) through to Fleming Lindelov (ex-CEO Carlsberg) and Luc Bardin (Group Vice President of BP).
Since 2010 the European Business Awards has been supported by The FINANCIAL. Zviad Pochkhua, Editor-in-Chief, is one of the judges.
“In my early 20s I founded and built up a publishing and media business that I sold in 2007,” Adrian Tripp, CEO, EBA. “After the sale of my previous business I wanted to found a social enterprise that would work towards creating a stronger and more successful business community in Europe, a business community that could support our social and healthcare systems and provide prosperity for the citizens of Europe for generations to come.”
“We live in an increasingly globalised world, which provides great opportunity but also brings much greater competition. I believe it is important that we recognize innovative, ethical, financially successful businesses that have a strong international mindset. Those are the types of businesses that we will be able to build successful economies around.”
“By showcasing and bringing attention to the very best businesses we help them to succeed and prosper by providing excellent visibility and endorsement. They in turn will create more jobs and pay more taxes which is good for society.”
“We also look at what makes those businesses successful and share those learnings with the rest of the business community. And lastly we use the Awards and the companies featured to stimulate the debate within society around what the future shape, form and substance of the economies of Europe should be. As the competition has grown so significantly over the last few years, we are more and more able to achieve the goals and objectives outlined above.”
Q. What do businesses gain from the Awards? What are the biggest benefits for companies participating in the Awards ceremony?
A. With over 15,000 companies engaged in the programme across 30 countries every year, 5 stages of judging and more than 200 judges, with participating companies having a combined turnover of more than EUR 1 trillion, this makes the European Business Awards very highly regarded and gives it excellent levels of visibility.
There are many benefits of entering; the entry process is a very powerful and robust way of reviewing exactly what has made the entrants successful. It also enables them to benchmark their performance against the most successful businesses in Europe.
It also shows to staff, investors and clients that the leaders of the business are proud of what they as a business have achieved.
If companies get through and become award winners the accolade has very powerful business benefits, many of our previous winners have: generated new business and partnerships; have secured new investment to help them grow; some have undertaken mergers and acquisitions on the back of their achievements. They all benefit from significant international exposure and visibility.
Q. What should Georgian companies do to take part in this competition and in general to increase their competitiveness globally?
A. It is a great way for Georgian companies to create better visibility on a European and global stage. The Awards are also a very effective platform for Georgian companies to build relationships with other very successful businesses throughout Europe. Every year we see many partnerships and much business done between European Business Awards finalist companies.
Q. What are the typical characteristics of Georgian companies that make them different from European ones?
A. Well-run businesses all over the world have similar characteristics, they have strong and driven management teams, they are constantly innovating to improve their competitive position in the market and are very sensitive to the needs of their clients. The best Georgian companies have the same characteristics.
Q. In your opinion how is the business environment improving in Europe and what are the main challenges still?
A. A more stable outlook for the Euro and Greece has taken away some of the uncertainty business leaders were facing when making important investment and expansion decisions, which is good. On the other hand, the macroeconomic conditions prevalent throughout Europe are still very challenging. We have seen this year across all of the entrants in the Awards significant pressure on margins. This in turn has an impact on investment and medium-term growth.
Q. Which are the most dynamic companies and sectors in Europe so far? Why?
A. In every industry, both new and old, highly competitive to emerging, there are great companies doing amazing work. From H&M (Sweden) to Pirelli (Italy), Sener (Spain) to Mercator (Slovenia) they have all found a way to unlock value and are prospering.
The digital space in all its forms shows high levels of innovation and activity as does the biotech and renewable energy industries. Although all would do significantly better if there was a better-functioning investment environment.
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